Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

iOCBCfx Review

6 reviews

iOCBCfx general information

Founded in: 2004 year
Website: portal.iocbc.com
Regulated by: MAS
Affiliate program: 0

iOCBCfx Forex broker description

IOCBCFX is the forex brokerage subsidiary of Singapore's OCBC Bank, one of the most prominent financial institutions in the country. IOCBCFX provides a comprehensive and dependable platform for trading forex, commodities, indices, and CFDs. IOCBCFX is a reliable and comprehensive forex trading platform that stands out from other brokers due to its wide range of features and services. 

While IOCBCFX's availability in different continents is still being discussed, its license, offerings, customer support services, and available platforms make it a decent broker. As a subsidiary of a financial service broker that has been in operation for several decades, traders anticipate more features and offerings from the broker as time passes.

Supported Countries

IOCBCFX aims to offer worldwide financial services; however, its offerings are currently limited to some countries. These countries include Australia, Canada, China, Hong Kong, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Taiwan, Thailand, the United Arab Emirates, the United Kingdom,  and Vietnam.

On the other hand, this iOCBC review gathered that the broker is limited in some countries due to regulatory licenses. These countries include Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, Türkiye, and the United States.

While it does appear that about 0.5% of IOCBCFX’s clients are from the United States despite its restriction, this review deduced that these clients have relocated from different regions and trade via VPN. Citizens of the above-listed restricted countries can also use the broker’s platform if they reside in areas where the broker is licensed. 

Customer Service Rating

IOCBCFX is rated 3.4/5 on TopBrokers based on 9 reviews. This is a fair review rating for most brokers in the industry.

On the positive side, IOCBCFX was praised for its fast and reliable payout services and the quality of its customer service. The negative reviews, however, hinged on the absence of copy trading features and crypto payment options.

IOCBCFX Trading Platform

OCBCfx presents the exclusive iOCBC trading platform as the sole option for conducting trades. This platform, developed in-house, is a proprietary system capable of handling multiple asset types, including forex, indices, futures, equities, and shares.

Utilizing this platform offers numerous advantages, such as swift access to all markets, complete control over your portfolio, and a secure and reliable trading environment. Moreover, it incorporates many features, including analysis and charting tools, real-time market news and analysis, technical analysis tools, and line studies. Mobile versions of the platform are available for download to cater to users' convenience.

The mobile app provides a comprehensive range of information covering global markets. It enables users to track market movements and sectoral indices, plot charts, create watch lists, manage portfolios, check order statuses, and maintain outstanding contracts. Compatible with both iPhone and iPad devices and Android devices, the app ensures accessibility on various platforms.

It is essential to note that the iOCBC trading platform and its associated mobile apps are exclusively available in English. This may be a downside for other international brokers. 

Type of Trading Accounts on IOCBCFX

Here are the types of trading accounts available on IOCBCFX:

  • Standard Account: The standard trading account is appropriate for most traders and provides access to a wide range of trading instruments, such as Forex, stocks, indices, and commodities, with low spreads.

  • Pro Account: This is designed for experienced traders requiring tight spreads and fast execution speeds. It offers lower spreads than the Standard Account but has higher trading fees.

  • Demo Account: IOCBCFX provides a demo trading account that allows traders to practice trading and evaluate the platform's functionalities and tools without risk. The availability of this account is based on request. Trades will have to contact customer support to access this account.

Trading Denominations on IOCBCFX

As an international broker, IOCBFX permits several denominations across its trading accounts. These denominations are AUD, BRL, CAD, CHF, EUR, GBP, HKD, IDR, JPY, MXN, MYR, RUB, SGD, THB, USD, and ZAR.

Company Structure

IOCBCFX is the brokerage arm of OCBC Securities Private Limited, a subsidiary of OCBC Bank. The bank is one of Southeast Asia's most prominent financial institutions. The broker is headquartered in Singapore; hence it is popularly called iOCBC Singapore.

OCBC Securities Private Limited is licensed and regulated by the Monetary Authority of Singapore (MAS) and is a member of the Singapore Exchange (SGX). Hence iOCBCFX's affiliations with these regulatory bodies.

As an online trading platform, IOCBCFX offers traders access to various financial instruments such as Forex, commodities, indices, and stocks. The platform also provides traders with various trading tools, market analysis, and educational resources to help them make informed trading decisions.

The broker is supported by a team of experienced professionals, including traders, analysts, and customer support specialists, who are dedicated to providing high-quality services and assistance to traders. IOCBCFX has also established partnerships with multiple liquidity providers to guarantee that traders can access deep liquidity pools and competitive pricing.

IOCBCFX rides on the framework of OCBC Securities Private Limited as an esteemed financial institution with a solid regulatory structure to uphold its track record of delivering dependable financial services to its customers. Hence, its numerous awards since its establishment, particularly for its customer service offerings.

IOCBCFX Licenses and Regulatory Compliance

IOCBCFX is a broker that deals in forex and CFD in Asia; hence it is supervised by the Monetary Authority of Singapore (MAS). The broker also holds a Capital Markets Services License and is subject to regulation under the Securities and Futures Act of Singapore. This permit guarantees that IOCBCFX adheres to rigorous regulatory standards to protect the welfare of its customers and preserve market honesty.

Moreover, IOCBCFX is part of the Singapore Exchange Securities Trading Limited (SGX-ST), an entirely digital trading system for securities in Singapore. This membership further restricts the broker to the code of ethics of the financial market.

IOCBCFX Customer Protection

Brokers are expected to put measures in place to protect their client's investments in case of eventualities, and iOCBCFX is no exception. Some of the broker's customer protection measures include:

  • Regulatory oversight: IOCBFX is subject to regulatory oversight by the Monetary Authority of Singapore (MAS), which establishes guidelines for financial institutions in Singapore. This guarantees that IOCBFX conducts its operations justly and transparently and satisfies specific financial stability and risk management requirements.

  • Segregation of client funds: IOCBFX maintains segregated accounts for client funds, ensuring they are distinct from the company's funds. This guarantees that in the event of IOCBFX's financial failure, clients' funds will remain safeguarded.

  • Negative balance protection: IOCBFX provides negative balance protection, which implies that clients are safeguarded from losing more money than what they have initially deposited in their trading account.

  • Two-factor authentication: IOCBFX requires clients to use two-factor authentication when logging into their trading accounts. This helps to prevent unauthorized access.

  • Encryption of data: IOCBFX deploys encryption to safeguard clients' personal and financial data, guaranteeing that any information transmitted between IOCBFX and clients is secure and inaccessible to unauthorized individuals.

Customer Support

You can easily reach the iOCBCfx customer support team in real time through phone, email, and chat. The phone lines are available from 08:30 to 18:00, Mondays to Fridays. However, suppose you're operating from Australia or London. In that case, you'll have extended trading hours and can contact the broker for technical assistance or any iOCBC-related issues during your normal trading hours.

iOCBCfx has garnered numerous awards and recognitions for its exceptional customer service. Notable among these are the Best Customer Service Award at the Global Forex Awards in 2020 and the Excellence in Customer Service Award at the 2018 Asia Pacific Enterprise Awards. These accolades speak to the high quality of customer support provided by iOCBCfx.

Trading Information

IOCBCFX stands out for the quality of its vast tradable instruments and trading conditions. Despite the absence of crypto payment options and the unspecificity of the iOCBC commission, the speed of its traditional payment options makes up for this absence. More details are discussed in the subsequent sections of this iOCBC review.

Tradable Instruments

iOCBCfx provides its clients with 35 currency pairs, 500 CFDs, 2 metals, and one energy source. The broker offers a diverse range of foreign exchange assets, including major, minor, and exotic currency pairs. 

Some of the broker’s major currency pairs available include USD/JPY, USD/CHF, EUR/USD, and GBP/USD, while minor currency pairs, like AUD/USD, USD/CAD, and NZD/USD, are also available for trading. Along with major and minor currency pairs, IOCBCFX offers traders access to exotic currency pairs, such as USD/SGD, USD/HKD, and USD/THB, which may present unique trading opportunities, but could also have increased volatility and wider spreads. 

IOCBCFX Leverage

Only a little has been published by the trader about its leverage. This iOCBC review was, however, able to gather that the broker's average leverage is 1:200 for forex and 1:100 for indices and commodities.

Deposits and Withdrawals on IOCBCFX

iOCBCfx only accepts Bank Wire transfers, cheques, telegraphic transfers, or cash to deposit and withdraw funds. On the other hand, this iOCBC broker review gathered that payment for shares can be made via internet bill payment by registering iOCBCfx as a payee with OCBC Bank. There are no specific details about iOCBC fees on the broker’s website More deposit and withdrawal details are discussed in subsequent sections.


Deposits into any iOCBCFX account can be done via SGD, USD, GBP, CHF, JPY, AUD, and EUR. A summary of the deposit methods is highlighted below:

Withdrawal Method

Processing Time

Bank Transfer

2-5 business days

Credit/Debit Card

3-5 business days


Within 24 hours


Within 24 hours

China UnionPay

Within 24 hours


Similar to deposit options, withdrawal from any iOCBCFX account can be made via SGD, USD, GBP, CHF, JPY, AUD, and EUR. A summary of the available withdrawal methods is highlighted below:

Deposit Method

Processing Time

Bank Wire Transfer

1-3 business days

Credit/Debit Card






China Union Pay


IOCBCFX Trading Education and Training

iOCBC Singapore stands out with the quality of its educational and trading resources. Beyond offering a unique demo account, this iOCBC review deduced that the broker has provided commendable educational resources and training facilities. These include:

  • Webinars: The broker hosts webinars frequently to educate traders on various topics such as technical analysis, fundamental analysis, risk management, and trading strategies.

  • Trading Guides: IOCBCFX provides comprehensive trading guides that cover topics like forex trading, CFD trading, and trading psychology. These guides offer traders a detailed overview of various trading concepts and strategies.

  • Video Tutorials: The broker also offers video tutorials that cover different aspects of trading, including platform tutorials, trading strategies, and risk management.

  • Personalized Coaching: For traders who want a more customized approach, IOCBCFX offers one-on-one coaching with experienced traders.


  • What financial instruments can I trade with iOCBCFX?

iOCBCFX offers various financial instruments, including forex, indices, commodities, and shares.

  • Is IOCBCFX a regulated broker?

Yes, iOCBCFX is regulated by the Monetary Authority of Singapore (MAS).

  • Is iOCBFX available in the U.S.?

iOCBFX is currently unavailable in the U.S. However, the broker has made public statements that suggest that plans are underway for the broker to earn a U.S. license.

  • Is iOCBFX a scam?

No, iOCBFX is not a scam. The broker's MAS license is evidence that its activities are regulated. The reputation of its mother body OCBC Bank further strengthens this claim.


IOCBCFX is a Singapore-based forex and CFD broker that has proven reliable. IOCBCFX offers trading services to both retail and institutional clients. It is regulated by the Monetary Authority of Singapore (MAS), known for its strict regulatory framework. 

IOCBCFX provides access to various financial instruments, including currencies, commodities, indices, shares, and its proprietary trading platforms. Despite having a limited forex portfolio, it offers good trading conditions for retail clients. Its customer support is excellent, and so are its research and educational tools. This iOCBC broker review concludes that iOCBCfx is a good option as a trading broker.

Trading accounts of iOCBCfx

  • Leveraged FX Account
Trading platforms: iOCBC
Trading instruments:

Contacts of iOCBCfx

Сингапур , СингапурChurch Street,, 18
show on the map
+65 1800 338 8688Телефон штаб-квартиры

Recent customer reviews of iOCBCfx

Lucas Howells 05 April 2022

Advantages: Protection against negative balance; A large selection of trading instruments; The support service works 24/7

Disadvantages: There is no cryptocurrency; Auto-copying is not available No PAMM accounts Not suitable for short-term trading, such as scalping The support service works in a limited number of languages

Comment: This was my first broker. I still spit. It may be suitable for experienced traders, but definitely not for a beginner. It feels like the company doesn't think about customers at all. There are no bonuses, there is no cryptocurrency, the leverage is 1:50 (this is how much money you need to have on deposit to earn normally).

Braydon Potts 03 March 2022

Advantages: Reliable regulation by MAS (Monetary Authority of Singapore— - the state body overseeing financial markets Providing access to trading on 31 world stock exchanges and the foreign exchange market A wide range of accounts that allow you to trade basic and derivative financial instruments

Disadvantages: Lack of optimal conditions for novice Forex traders - it is impossible to open a cent account, you need to deposit at least $700 to start trading, MT4 is not available

Comment: IOCBCFX is regulated, has a license, good ratings and high reliability. The intermediary offers precious metals, more than thirty currency pairs, stocks, indices, futures and other assets. The patented trading platform provides charting, news, analysis tools, information on the value of financial instruments for four years.

Leonardo Lolli 29 October 2021

Advantages: Minimum entry threshold, any strategies are allowed, protection from negative balance, multilingual support 24/7.

Disadvantages: I am waiting for a response from technical support, it is impossible to engage in passive income, there are tangible withdrawal fees. A small range of trading instruments. There are no PAMM accounts, there are delays in withdrawing funds, sometimes you have to wait a long time for a response from technical support. There are few opportunities for passive income, there are withdrawal fees, and occasionally there are difficulties with the operation of the trading terminal.

Comment: IOCBCFX is a broker for those who are used to trading currency and cryptocurrency both from a personal computer and from a smartphone, and use different trading strategies.


Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.